NAFA has folded

Thread starter #1
Haven’t kept up with it but saw today that North American fur auctions is no more.
Got this email from KAATZ brothers today
———

t's hard to believe November is here! Many states like Maine, Wisconsin, and Indiana have started trapping already. Iowa opens tomorrow, with temperatures below freezing. Snow and freezing temps across the Midwest will make it a challenge right out of the gate. I'm afraid when Illinois season opens November 10th, I will have ice in some places. That's just what we have to deal with matching wits with Mother Nature!
I'm sure by now, most of you have heard North American Fur Auctions (NAFA) has folded. For some this comes as a big surprise, while for me, I've been expecting it for the last couple years. I feel bad for the trappers, dealers, ranchers, brokers, and agents who are stuck with checks not worth the paper they are wrote on. This is very bad for our industry. As people need money to operate, NAFA's collapse definitely hurts many people from all sides of the fur industry.
In the short term, NAFA's collapse could create some market instabilities this season. I hope I'm wrong on this. We often get asked, "Where should I sell my fur?" Most of our fur gets sold to Groenewold Fur & Wool, and some goes to Fur Harvester's Auction. Both of these companies are solid businesses, and they are in tune with the markets, and their checks will be good! Check them out if you are looking for a new outlet for your fur. Tell them the Kaatz Bros sent you!
 
Top